Vertiv (NYSE:VRT) Stock Price Up 3.1%

Vertiv Holdings Co (NYSE:VRT) shares shot up 3.1% during mid-day trading on Wednesday . The stock traded as high as $100.88 and last traded at $100.38. 2,246,544 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 8,508,814 shares. The stock had previously closed at $97.39.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VRT. Mizuho upgraded Vertiv from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. TD Cowen boosted their price objective on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI restated an “outperform” rating and set a $105.00 price objective on shares of Vertiv in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group reduced their price objective on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $102.13.

Vertiv Price Performance

The stock has a market capitalization of $37.71 billion, a price-to-earnings ratio of 96.88, a P/E/G ratio of 1.26 and a beta of 1.58. The company has a fifty day simple moving average of $79.80 and a 200 day simple moving average of $85.82. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 EPS. Equities research analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Tuesday, September 17th. Vertiv’s payout ratio is presently 9.62%.

Insider Activity

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC acquired a new position in Vertiv during the 1st quarter worth approximately $25,000. Anchor Investment Management LLC acquired a new position in Vertiv during the 2nd quarter worth approximately $26,000. Raleigh Capital Management Inc. raised its stake in Vertiv by 79.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock worth $27,000 after buying an additional 252 shares during the period. Atticus Wealth Management LLC acquired a new position in Vertiv during the 1st quarter worth approximately $27,000. Finally, Mather Group LLC. raised its stake in Vertiv by 132.5% during the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Vertiv Company Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.